Bitcoin price surges to record high: Trump’s policies and bullish bets send BTC soaring past $113,000

Bitcoin surged to a fresh record on Thursday, crossing $113,734.64 and extending its year-to-date gains to 21%. The rally has been fueled by a combination of institutional inflows and supportive policy signals from President Donald Trump’s administration.

In March, Trump signed an executive order to establish a strategic cryptocurrency reserve. He has also appointed crypto-friendly figures, including Paul Atkins at the SEC and David Sacks as the White House AI lead. Further boosting sentiment, Trump Media & Technology Group filed with the SEC this week to launch an exchange-traded fund (ETF) holding a basket of digital tokens, including Bitcoin.

Traders Anticipate Further Upside

Deribit options data reveals growing bets on Bitcoin hitting $115,000 and $120,000 soon, with strong interest in September and December calls targeting $140,000 and $150,000.

Chris Newhouse, Director of Research at DeFi trading firm Ergonia, noted:
"The options market is showing renewed bullish conviction. Yesterday’s move to new highs followed the largest short liquidation since May 7, with around $447 million wiped out — a clear sign of overcrowded bearish positioning."

Since surpassing $112,000 on Wednesday, forced liquidations have eased to about $76.5 million in the past 12 hours, down from $456 million, according to Coinglass.

Political Tailwinds and Corporate Buying Fuel Momentum

Trump’s remarks on Truth Social further lifted market sentiment. Anticipation of a pro-crypto second term has prompted speculation of easier regulations, with a Congressional committee designating the week of July 14 as 'Crypto Week'.

Meanwhile, corporate adoption is accelerating. Mauricio Di Bartolomeo, Co-founder and CSO of Ledn, stated:
"Bitcoin’s all-time high reflects relentless demand from both investors and corporations."

Several crypto treasury firms are raising capital through equity and debt to accumulate Bitcoin, positioning themselves as digital asset proxies on stock markets — reinforcing Bitcoin’s sustained upward momentum.

Geopolitical Uncertainty Adds to Bitcoin’s Safe-Haven Appeal

Potential new tariffs from Trump’s administration expected in August could disrupt traditional markets. Some investors are increasingly viewing Bitcoin as a hedge against trade-related market volatility.

Roshan Roberts, CEO of OKX US, commented:
"Bitcoin is proving its value as a macro hedge and maturing asset class. While altcoins stumble amid trade tensions, institutions are leaning into BTC."

Technical Outlook: Key Levels and Future Targets

Technically, Bitcoin broke out above the upper boundary of a descending channel on Wednesday — a bullish signal confirmed by a robust Relative Strength Index (RSI) still below overbought levels. Based on chart patterns, traders are eyeing a potential target around $146,400, representing a 32% upside from current levels.

On the downside, $107,000 is viewed as immediate support near the 50-day moving average. A breach of this level could see Bitcoin test the $100,000 zone — a key range dating back to November.

Outlook: Bulls in Control, but Summer Could Test Resilience

Bitcoin is now trading nearly 50% above its April low, with year-to-date returns rivaling giants like Nvidia and Microsoft. Sustaining this rally will depend on fresh inflows, market sentiment, and global geopolitical shifts.

For now, bullish momentum remains firmly in place, with markets watching to see whether Bitcoin can push deeper into uncharted territory or encounter resistance as summer unfolds.

Source: Economic times

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Bitcoin’s latest surge isn’t just a market rally — it’s a signal that digital assets are cementing their place in mainstream finance. With institutional money flowing in and regulatory sentiment turning favourable, we believe this momentum will reshape how businesses hedge value and manage assets. Our focus remains on building solutions that align with this fast-evolving crypto economy.